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MERSOM

Municipal Employees' Retirement System of Michigan Portfolio holdings

AUM $9.05B
1-Year Est. Return 13.04%
This Fund
S&P 500
This Quarter Est. Return
+1.02%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$2.62B
AUM Growth
+$1.18B
Cap. Flow
+$1.18B
Cap. Flow %
45.1%
Top 10 Hldgs %
33.55%
Holding
1,716
New
55
Increased
626
Reduced
537
Closed
38

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$344M
2
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$117M
3
STIP icon
iShares 0-5 Year TIPS Bond ETF
STIP
+$59.9M
4
MBB icon
iShares MBS ETF
MBB
+$50.2M
5
FLRN icon
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
+$45.1M

Top Sells

Rank Stock Value
1
NGL icon
NGL Energy Partners
NGL
+$9.04M
2
CEQP
Crestwood Equity Partners LP
CEQP
+$7.87M
3
TCP
TC Pipelines LP
TCP
+$7.48M
4
CQP icon
Cheniere Energy
CQP
+$7.31M
5
NS
NuStar Energy L.P.
NS
+$7.27M

Sector Composition

Rank Sector Weight
1 Financials 8.75%
2 Technology 7.96%
3 Industrials 7.51%
4 Consumer Discretionary 5.82%
5 Healthcare 5.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BMI icon
901
Badger Meter
BMI
$3.91B
$471K 0.02%
8,770
+60
+0.7% +$3.24K
BSTC
902
DELISTED
BioSpecifics Technologies Corp.
BSTC
$471K 0.02%
8,800
– –
LZB icon
903
La-Z-Boy
LZB
$1.64B
$470K 0.02%
13,990
-2,650
-16% -$84.7K
MUSA icon
904
Murphy USA
MUSA
$10.1B
$470K 0.02%
5,510
-40
-0.7% -$3.52K
MOV icon
905
Movado Group
MOV
$815M
$469K 0.02%
18,850
-2,610
-12% -$64.7K
XEL icon
906
Xcel Energy
XEL
$49.1B
$469K 0.02%
7,220
+100
+1% +$6.23K
ATI icon
907
ATI
ATI
$31.4B
$468K 0.02%
23,130
-110
-0.5% -$2.33K
HSIC icon
908
Henry Schein
HSIC
$10.1B
$468K 0.02%
7,370
– –
CVGW
909
DELISTED
Calavo Growers
CVGW
$467K 0.02%
4,910
+250
+5% +$22.9K
FANG icon
910
Diamondback Energy
FANG
$55.9B
$467K 0.02%
5,200
– –
FLWS icon
911
1-800-Flowers.com
FLWS
$262M
$466K 0.02%
31,470
– –
HUBG icon
912
HUB Group
HUBG
$2.46B
$466K 0.02%
20,060
-260
-1% -$5.52K
JRVR icon
913
James River Group Holdings
JRVR
$199M
$466K 0.02%
9,090
+130
+1% +$6.34K
KMT icon
914
Kennametal
KMT
$2.35B
$465K 0.02%
15,130
-70
-0.5% -$2.23K
TSC
915
DELISTED
TriState Capital Holdings, Inc.
TSC
$465K 0.02%
22,090
– –
GIS icon
916
General Mills
GIS
$20.4B
$464K 0.02%
8,410
+140
+2% +$7.54K
EGBN icon
917
Eagle Bancorp
EGBN
$877M
$462K 0.02%
10,360
+890
+9% +$38.9K
PRAA icon
918
PRA Group
PRAA
$762M
$462K 0.02%
13,670
+180
+1% +$5.73K
KHC icon
919
Kraft Heinz
KHC
$29.1B
$461K 0.02%
16,490
+180
+1% +$5.18K
AVNT icon
920
Avient
AVNT
$4.16B
$460K 0.02%
14,100
-90
-0.6% -$2.85K
USAP
921
DELISTED
Universal Stainless & Alloy
USAP
$460K 0.02%
29,500
– –
IMMR icon
922
Immersion
IMMR
$247M
$459K 0.02%
59,970
– –
PDEX icon
923
Pro-Dex
PDEX
$217M
$459K 0.02%
30,000
– –
SFBS
924
ServisFirst Bancshares
SFBS
$4.95B
$459K 0.02%
13,860
+160
+1% +$5.16K
TCO
925
DELISTED
Taubman Centers Inc.
TCO
$459K 0.02%
11,230
-70
-0.6% -$2.85K
35 36
37
38 39

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SFM
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AI
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PEA
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SUT
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WPL
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Municipal Employees' Retirement System of Michigan's Q3 2019 Portfolio in Review

As of Q3 2019, Municipal Employees' Retirement System of Michigan held 1,716 positions worth $2.62B, up 83% from $1.43B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $1.18B of net new capital in Q3 2019, opening 55 new positions and adding to 626 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 1,158,671 shares worth $346M.

By sector, the portfolio is most concentrated in Financials at 8.8% of assets, down from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was MarketAxess Holdings, an estimated $2.31M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q3 2019 buy was iShares Core S&P 500 ETF: 1,158,671 shares worth $346M.
  • Municipal Employees' Retirement System of Michigan added most to Foot Locker in Q3 2019, an estimated $748K increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q3 2019 reduction was MarketAxess Holdings, cutting an estimated $2.31M.
  • Municipal Employees' Retirement System of Michigan fully exited NGL Energy Partners in Q3 2019, selling an estimated $9.04M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 34% of its $2.62B portfolio in Q3 2019.
  • Municipal Employees' Retirement System of Michigan opened 55 new positions and closed 38 in Q3 2019.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 83% quarter-over-quarter to $2.62B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q3 2019, filed 29 Oct 2019.